Quote:
Originally Posted by Honclfibr  I keep hearing this, and it's complete crap. Noone who has any clue how tax refunds work would say this.
For reference, what people are saying to me is "The tax rebate will be deducted from your 08 tax refund, if you have one. However if you don't get a refund or owe more money, you will get to keep it".
Complete fucking horseshit. Your tax liability is your tax liability, the refund/additional taxes calculated at the end of the year is simply a way of correcting the estimated taxes taken out all year long. You can fuck with your "refund" by playing with your deductions, so the idea that this tax rebate would somehow be funded by people's 08 refund is pretty much ludicrous. |
that's what fucking CNN say anway. i didn't know for people that owe gets to keep it. that's great.
anyway i think i understand the basic refund for simple filing. thank you very much.